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NEW TREND IN RIGA’S NEW APARTMENT MARKET!

2019-10-28

Investors discover that buying an apartment in Riga can turn out as a great investment opportunity with solid returns.

More and more, we see that the apartment market in Riga is expending itself not only for pepole who are looking for a place to live, but also to pepole who are looking for solid investment and money returns. In a low intrest economic environment, where returns on real estate investments are getting lower and lower, Riga has a clear advantge over other European real estate markets. Local apartment developers recognize a growing segment of pepole who are intrested in buying apartments for investments as a “safe parking” for their money. This segment is popular with both local and internationl buyers.
Lately, by offering not only the regular type of real estate purchase, IRIS SHAMPETERIS APARTMENTS has been welcoming also the “investment type” buyers.
Starting November, IRIS SHAMPETERIS APARTMENTS is offering relatively new option that has gained a lot of popularity in latvian real estate market: buy-to-let ( BTL). Next month, IRIS SHAMPETERIS APARTMENTS team will start to offer full support to buyers who intend to lease thier apartments and keep it as an investment. IRIS SHAMPETERIS APARTMENTS team will assist those, who are interested in BTL option, to give suggestions on how to furnish the apartment and find the tenants.
For apartment buyers who are looking for an immediate income investment opportunity, apartments in IRIS SHAMPETERIS APARTMENTS House A are an ideal choice, as tenants can move in to the apartments almost imidiately as the House A is already commisioned. There are only 6 apartment left for sale ( information of 29.10.19 ) all one bedroom apartments. IRIS SHAMPETERIS APARTMENTS developer has designed the apartment complex to be appealing for a wide range of people who think outside the box. IRIS SHAMPETERIS APARTMENTS apartments are well suited to be rented by :
1. young professionals and families who are still not committed to an independent real estate purchace, but are looking for the first independent home in a dynamic neighboorhood, near Riga city center and resort city – Jūrmala;
2. university students or “specific field” employes for example: pilots, medical staff, or relocated employes as IRIS SHAMPETERIS APARTMENTS buildings ar located in 30 min. distance from the biggest universities, 15 min. drive from city center and only in few min. driving distance from the Riga international airport;
What returns can an average investor expect?
If a person chooses to buy an apartment as an investment, and assuming that the purchase price of a 1 bedroom apartment is about 90,000 EUR (excluding apt. furnishings and tax), total expected return for the investment should come to an average of 6-7% (ROI)( depending of the amount of furnishings in the leased apartment ).
Based on current real estate market stats in Riga, the average rental prices for 1 bedroom apartment in a new projects goes between 500 to 600 EUR + utilities.

Average loan payment for the same type of apartment is 300-400 EUR per month with assumed down payment of 10-20%.
 

For more information please contact IRIS SHAMPETERIS APARTMENTS sales managers for a consultation today: tet.: +371 29102085 or via email: [email protected]